San Ramon Real Estate Market Update — August 21, 2026

Small sample sizes continue to make the San Ramon real estate market harder to predict from week to week.

Inventory increased again, while the number of homes going pending dropped significantly after an encouraging week of buyer activity. At the same time, our rolling average sales price improved, showing that there is still movement at the higher end of the market.

The result is a market that continues to feel very different depending on the individual home.

Watch This Week's San Ramon Real Estate Market Update

This Week's San Ramon Real Estate Numbers

HOMES FOR SALE
This week: 78
Last week: 74

AVERAGE ASKING PRICE
This week: $1,883,000
Last week: $1,873,000

NEW PENDING SALES
This week: 3
Last week: 12

AVERAGE PENDING PRICE
This week: $1,794,000
Last week: $1,825,000

CLOSED SALES
This week: 12
Last week: 13

AVERAGE CLOSED PRICE
This week: $1,922,000
Last week: $1,723,000

The headline this week is the sharp drop in new pending sales.

After an encouraging 12 homes went pending last week, only three entered contract this week.

That's certainly a slowdown, but this is also the time of year when the San Ramon market traditionally begins losing some momentum as we head toward fall.

Let's take a closer look at what the broader market indicators are telling us.

San Ramon Housing Inventory Climbs to 78 Homes

Inventory increased again this week, moving from 74 to 78 active and coming-soon homes.

We're now approaching 80 homes on the market.

Last week's 12 pending sales gave us some encouraging movement, but with only three new pendings this week, buyers weren't absorbing inventory nearly as quickly.

At the same time, I would expect the number of new listings to begin slowing as we move further into the fall market.

If fewer homeowners decide to list their homes, that should eventually begin pushing our overall inventory levels back down.

For sellers, though, the current number is significant.

Buyers still have choices.

That makes pricing, preparation and presentation especially important if you want your home to stand out.

San Ramon Home Sales Are Still Moving Much Slower Than Normal

The reduction in new pending sales also pushed our turnover indicator backward this week.

Over the past few weeks, turnover had been hovering around 50% of what I consider normal for this time of year.

That's still slow, but it had been on the stronger side of what we've experienced throughout much of 2026.

This week's three pending sales interrupted that improvement.

We could get back toward the 50% range if the normal seasonal slowdown in new listings reduces the amount of available inventory.

But I don't think we can describe this as a sustainable level of buyer activity until we're consistently seeing several weeks of double-digit pending sales.

One good week isn't enough.

And one bad week isn't necessarily enough to declare the market dramatically worse either.

That's one of the challenges of looking at such small sample sizes.

Are San Ramon Homes Selling Over or Under Asking?

Our over/under indicator moved back below asking this week after briefly jumping into positive territory last week.

But the important part isn't whether the number is slightly positive or slightly negative.

Recently, both our over-asking and under-asking averages have remained within approximately 1% of the asking price.

That's a relatively narrow range.

It suggests that the overall market isn't showing a significant advantage for either buyers or sellers based purely on the final sale-to-list-price ratio.

Instead, the results are being determined much more by the individual property.

A desirable home can still generate significant competition. A home that doesn't connect with buyers can sit.

What Is Happening With San Ramon Home Prices?

While our over/under number moved backward this week, the average sales price improved significantly.

Our 30-day rolling average sales price has climbed back above $1.7 million.

That's encouraging because it indicates we've seen more activity at the higher end of the San Ramon market over the past month.

However, that rolling average remains below where it was at the same point last year.

That suggests higher-priced homes have generally had a harder time gaining traction in 2026 than they did in 2025.

This is another reason I don't like relying too heavily on a single week's average sales price.

Only 12 homes closed this week.

When the sample size is that small, a few higher-priced or lower-priced sales can dramatically change the average.

The longer-term trend gives us a much better picture.

What Is the Stock Market Telling Us?

I also watch the technology-heavy QQQ ETF because stock-market performance can have an outsized impact on buyer confidence here in San Ramon and throughout the Tri-Valley.

QQQ finished this week approximately 1.5% below last week's closing level.

That's not a major decline, and the fund is still performing well overall this year.

But even relatively modest stock-market weakness can affect buyer psychology.

For many buyers in our area, a large home purchase is tied not only to income but also to stock compensation, investments and overall confidence about their financial position.

When the market moves backward, it can become one more reason to hesitate.

Mortgage Rates Remain the Biggest Obstacle

Mortgage rates barely moved this week, dropping by only about 2 basis points and remaining well above 6.5%.

And rates continue to be the biggest obstacle preventing the San Ramon housing market from developing real momentum.

Higher borrowing costs affect affordability.

They reduce the purchasing power of buyers.

And they can make homeowners with much lower existing mortgage rates reluctant to sell and take on a new loan.

Until mortgage rates improve meaningfully, it's difficult to see buyer demand returning to what we would consider a truly healthy or normal level.

What Does This Mean for San Ramon Home Sellers?

The biggest lesson for sellers right now is:

Your home needs to give buyers a reason to care.

Drive through almost any San Ramon neighborhood and you can see how inconsistent this market feels.

You might pass one home that has been sitting on the market for several months.

Then you turn the corner and see another house that was listed recently already displaying a pending sign.

That's why broad market statistics don't tell the whole story.

The homes that are succeeding generally have some type of wow factor.

That could be:

• Exceptional condition and presentation

• A particularly desirable location

• A feature buyers have been waiting for

• Or an aggressive price that immediately gets their attention

It doesn't necessarily matter whether the home is $1.3 million or $3 million.

It needs a reason for buyers to choose it over the alternatives.

If your home doesn't have one of those advantages, you should be prepared for a much more difficult selling process.

What Does This Mean for San Ramon Home Buyers?

For buyers, this market can create opportunities—but you need to evaluate each property individually.

A home that has been sitting on the market without much activity may give you an opportunity to negotiate on price, credits or other terms.

But that doesn't mean every home is negotiable.

The best homes can still sell quickly.

If a property has great presentation, a desirable location or an aggressive price, other buyers may respond just as quickly as you do.

So rather than asking whether San Ramon is currently a buyer's market or a seller's market, the better question is:

What kind of market exists for this particular house?

That can vary dramatically from one property to another.

This Week's San Ramon Market Takeaway

The biggest thing that stands out to me this week is that the broader trends have actually been more consistent this year than they were last year.

And most of them have pointed toward a softer market.

None of the numbers we're seeing are devastating.

But transaction volume has remained so low that week-to-week statistics can be misleading.

This week is a perfect example.

We went from 12 pending sales to three.

That's a huge percentage change—but we're talking about a difference of nine homes across an entire city.

The sample size simply isn't large enough to treat every weekly movement as a meaningful new trend.

The one thing I continue to feel comfortable hanging my hat on is this:

Your home will still sell if it has a wow factor.

That might mean buyers walk inside and immediately love the condition.

It might mean the location is exactly what they've been waiting for.

Or it might mean the price is compelling enough that buyers don't want to risk losing the opportunity.

If your home doesn't have one of those factors to capture buyers' attention, be prepared to fight an uphill battle.

More than ever, the strategy for one San Ramon home can be completely different from the strategy for another.

The goal isn't to predict every weekly market movement perfectly.

It's to understand where your home fits within the market so you can make the best decision for you and your family.

Frequently Asked Questions About the San Ramon Housing Market

Is the San Ramon real estate market slowing down?

The market remains much slower than what I would consider normal for this time of year. Only three homes went pending this week after 12 the week before. However, we're also entering the part of the year when San Ramon typically experiences a seasonal slowdown, and small weekly transaction totals can exaggerate changes.

Why did San Ramon pending sales fall so much this week?

Pending sales dropped from 12 to three, but it's important to remember that we're working with a very small sample size. A difference of only a handful of transactions can create a dramatic percentage change from one week to another. I'll be watching the next several weeks to determine whether this was simply a slow week or part of a broader trend.

Are San Ramon homes selling below asking price?

On average, the market moved slightly below asking again this week. However, recent over/under numbers have generally remained within approximately 1% of asking price. Individual results vary considerably depending on the home's price, condition, presentation and location.

Why are some San Ramon homes selling quickly while others sit?

In the current market, buyers have more choices and less urgency. Homes that offer exceptional condition, a desirable location or compelling pricing can still attract significant interest. Homes without one of those advantages may have a much harder time getting buyers to act.

Is now a good time to sell a home in San Ramon?

That depends much more on your specific home and your goals than on a broad market label.

Some homes are still selling quickly and receiving strong offers. Others are struggling.

Before deciding whether to sell, it's important to understand your home's likely competition, price range, buyer pool and what can be done to make the property stand out.

Wondering What This Market Means for Your Home?

Market statistics can tell us what's happening across San Ramon, but they can't tell you exactly what your home is worth or what strategy makes the most sense for your family.

If you're thinking about selling—or simply want to understand your options—we're happy to sit down with you, look at your home and the current market, and help you create a plan.

Selling or buying a home can be stressful and confusing, but it doesn't have to be.